Mega construction projects in UAE push wood products demand in the region
The demand for wood and wood related products in the United Arab Emirates are driven by planned and ongoing construction of mixed-use mega projects.
"Any segment, including the wood industry, is going to be important in a country like the UAE, which is seeing vast developments to prepare for global events such as Expo 2020," Dr Abdullah bin Mohammed Belhaif Al Nuaimi, UAE Cabinet Member and Minister of Infrastructure Development, said during the opening of Dubai WoodShow on the 12th of March. "The wood industry is very important to us and it is an added value to our economy."
The three-day international trade show is showcasing the latest wood products, woodworking, machine tools, and new technology; and has drawn the participation of more than 300 exhibitors from 55 countries, MENAFN reported.
The show also features six country pavilions - Canada, China, Finland, Russian Federation, Turkey, and the USA. More than 10,000 trade visitors are expected to participate at the international event - including visitors from the GCC and other markets to source the latest products, services, machineries as well as renew their existing trade relations.
Dawood Al Shezawi, president of Strategic Marketing and Exhibitions, says: "A surge in oil prices which are trading over $60 a barrel brings back optimism and as investor sentiment rides high, we have seen a string of project announcements from the beginning of this year that will later create demand for interior dcor, wood products and woodworking machineries. The massive construction activities in the GCC, especially in Dubai, will continue to drive demand for wood products and we expect to see the wood import and export value to exceed Dh4 billion recorded in 2016 - in the following years."
Pacome Moubelet Bouyeba, Gabonese Minister of Forest and Environment, also spoke about the importance of sustainable logging practices, especially in a country like Gabon, which has 22 million hectares of natural forest.
"Over 88 per cent of our country is made up of rainforests, and we have a responsibility to take care of this valuable resource for the generations that will follow ours," he said. "We are seeing a huge demand from emerging economies. The GCC and Middle East has also seen a huge increase in trade volumes; over the past three to four years we have seen a 25 per cent increase in the sector."